Tuesday, October 25, 2022
2:00 – 3:30 pm (Eastern Time)
1:00 – 2:30 pm (Central Time)
12:00 – 1:30 pm (Mountain Time)
11:00 – 12:30 pm (Pacific Time)
Opening and managing accounts for nonresident aliens (NRAs) can be overwhelming tasks. What kind of identification can I request? What if the individual doesn’t have a social security number? How do we report interest earned at year-end?
In this informative branch compliance training, you will learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships. You will gain important insight into proper tax reporting of NRA accounts. Sample language, tips and tools you can utilize to update your policies and procedures will be provided. Don’t miss this jam-packed webinar!
- Differentiating between Resident Aliens and Nonresident Aliens
- Becoming familiar with identification documentation you may see at account opening
- Comparing and understanding tax identification number types
- Completing the W-8BEN: When and how
- Conducting appropriate enhanced due diligence
- Monitoring processes to incorporate into your BSA procedures
- Reporting NRA transactions to the IRS
1.5 CPE Credits